What is the official currency of Costa Rica?

What is the official currency of Costa Rica?

• A. Costa Rican Colón
• B. Guatemalan Quetzal
• C. Panamanian Balboa
• D. Nicaraguan Córdoba

Answer: (A)

The official currency of Costa Rica is the Costa Rican Colón. This currency has been in use since 1896 and is named after Christopher Columbus, who is known as "Cristóbal Colón" in Spanish. The Colón is subdivided into 100 centimos, much like other currencies that use a similar decimal system. Understanding the context of the currency is important as it reflects the economic history and stability of Costa Rica. The country operates a relatively stable economy that has allowed the Colón to maintain its value against other currencies in the region. Furthermore, this knowledge can be crucial for travelers or businesses engaging with Costa Rica, as it informs them of the local monetary system for transactions. The other currencies mentioned—Guatemalan Quetzal, Panamanian Balboa, and Nicaraguan Córdoba—are associated with different countries in Central America and do not serve as the official currency of Costa Rica. Hence, knowing the correct currency is essential for anyone seeking financial interactions in the country.

The official currency of Costa Rica is the Costa Rican Colón. This currency has been in use since 1896 and is named after Christopher Columbus, who is known as "Cristóbal Colón" in Spanish. The Colón is subdivided into 100 centimos, much like other currencies that use a similar decimal system.

Understanding the context of the currency is important as it reflects the economic history and stability of Costa Rica. The country operates a relatively stable economy that has allowed the Colón to maintain its value against other currencies in the region. Furthermore, this knowledge can be crucial for travelers or businesses engaging with Costa Rica, as it informs them of the local monetary system for transactions.

The other currencies mentioned—Guatemalan Quetzal, Panamanian Balboa, and Nicaraguan Córdoba—are associated with different countries in Central America and do not serve as the official currency of Costa Rica. Hence, knowing the correct currency is essential for anyone seeking financial interactions in the country.